“Upfront cost cuts and loan support” ... Education sector heats up race to attract entrepreneurs in Q4

[Financial News] The education sector is mounting an all-out effort to attract prospective business operators as it enters the fourth quarter, the peak season for opening educational facilities such as academies and study rooms. A key feature is the emphasis on “practical benefits” that directly reduce real startup costs, such as rent and franchise setup fees.
An education industry official said on the 28th, “The fourth quarter is when businesses prepare for the following year, and it is the biggest peak season in the education startup market,” adding, “With companies offering various benefits, including reductions in upfront costs, it’s a good idea to compare them carefully before making a choice.”
Yoons English is running a promotion through December for new entrepreneurs, offering benefits worth up to KRW 7.6 million. New franchisees of its academy and tutoring center brands will have the business launch preparation fee waived in full, and will not be charged academic or system usage fees for up to one year. During the first three months of the contract, the company will cover up to 50% of the rent. It will also provide marketing support, with head office staff helping recruit members directly outside schools.
Kumsung Publishing’s “Purunet Study Room” has lowered the barrier to starting a business by eliminating franchise fees, deposits and education fees. In particular, it offers interest-free loans of up to KRW 50 million for lease deposits. It provides teaching materials and initial supplies free of charge, while professional counseling teachers help recruit members so business operators can focus solely on teaching. Purunet is recruiting new teachers through November 11.
Chunjae Textbook’s “Smart Haebeop” offers first-time entrepreneurs initial supplies worth KRW 1.05 million and discounts on additional learning device purchases. It pays a congratulatory bonus to franchisees who secure at least a set number of members in their sixth month, and offers business operators switching from another brand benefits worth up to KRW 20 million, depending on their membership numbers. Smart Haebeop plans to hold online business information sessions on November 10 and 11.
“Gitan Thinking Skills Classroom” supports new businesses by providing 28 types of educational materials, including board games, as well as textbook samples and promotional items, free of charge. It has made operations more convenient by providing lesson plans and progress tracking sheets each month, and plans to continue its franchise promotion to coincide with the airing of a new TV commercial on the 29th.  

[email protected] Kim Man-gi Reporter